RBI Governor holds meeting with MD-CEOs of Public Private Banks, asked to be alert from global events

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RBI News Update: Reserve Bank of India (RBI) Governor Shaktikanta Das has advised banks to be careful and alert in view of global events. The RBI governor has also asked the banks to strengthen corporate governance very much.

In fact, the RBI Governor has held an important meeting on Tuesday with the Managing Director and CEO of public sector banks and some selected private banks. Referring to the excellent performance of the Indian banking system, Governor Shaktikanta Das while addressing the meeting said that despite the adverse global events, the performance of Indian banks has been excellent. However, he said that during such times banks need to be very careful and cautious.

The RBI governor has asked the MDs and CEOs of the banks to pay special attention to the corporate governance of the banks. Also asked to focus on audit function along with stability, compliance, risk management of banks. In the meeting, discussions were held on credit underwriting standards, monitoring of large exposures, implementation of EBLR benchmark, apart from guidelines on IT security, IT governance and increasing recovery from write-off accounts. Let us tell you that Finance Minister Nirmala Sitharaman has also asked banks to speed up the recovery of bad loans.

Last week, Finance Minister Nirmala Sitharaman also reviewed the working with the MD-CEOs of public sector banks. In the meeting, the Finance Minister had asked the public sector banks to lay emphasis on increasing maximum deposits. Along with simplifying the bank services, the Finance Minister had also advised to focus on the security of the customers. It was told in the meeting that the profit record of banks in 2022-23 has been Rs 1.05 lakh crore, which is three times the total profit of 2013-14.

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